IDEAS home Printed from https://ideas.repec.org/a/wly/navres/v45y1998i1p83-98.html
   My bibliography  Save this article

Pareto‐optimality in classical inventory problems

Author

Listed:
  • J. Puerto
  • F.R. Fernández

Abstract

In this paper the inventory problem with backorders both deterministic and stochastic is studied using trade‐off analysis in the context of vector optimization theory. The set of Pareto‐optimal solutions is geometrically characterized in both the constrained and unconstrained cases. Moreover, a new way of utilizing Pareto‐optimality concepts to handle classical inventory problems with backorders is derived. A new analysis of these models is done by means of a trade‐off analysis. New solutions are shown, and an error bound for total inventory cost is provided. Other models such as multi‐item or stochastic lead‐time demand inventory problems are addressed and their Pareto‐optimal solution sets are obtained. An example is included showing the additional applicability of this kind of analysis to handle parametric problems. © 1998 John Wiley & Sons, Inc. Naval Research Logistics 45: 83–98, 1998

Suggested Citation

  • J. Puerto & F.R. Fernández, 1998. "Pareto‐optimality in classical inventory problems," Naval Research Logistics (NRL), John Wiley & Sons, vol. 45(1), pages 83-98, February.
    • Handle: RePEc:wly:navres:v:45:y:1998:i:1:p:83-98
    DOI: 10.1002/(SICI)1520-6750(199802)45:13.0.CO;2-H
    as

    Download full text from publisher

    File URL: https://doi.org/10.1002/(SICI)1520-6750(199802)45:13.0.CO;2-H
    Download Restriction: no
    File URL: https://libkey.io/10.1002/(SICI)1520-6750(199802)45:13.0.CO;2-H?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mordechai I. Henig, 1994. "Efficient Interactive Methods for a Class of Multiattribute Shortest Path Problems," Management Science, INFORMS, vol. 40(7), pages 891-897, July.
    2. Gregory Dobson, 1988. "Sensitivity of the EOQ Model to Parameter Estimates," Operations Research, INFORMS, vol. 36(4), pages 570-574, August.
    3. Zhao, Jingang, 1991. "The Equilibria of a Multiple Object Game," International Journal of Game Theory, Springer;Game Theory Society, vol. 20(2), pages 171-182.
    4. Carrizosa, E. & Conde, E. & Fernandez, F. R. & Puerto, J., 1995. "Multi-criteria analysis with partial information about the weighting coefficients," European Journal of Operational Research, Elsevier, vol. 81(2), pages 291-301, March.
    5. ZHAO, Jingang, 1991. "The equilibria of a multiple objective game," LIDAM Reprints CORE 987, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Ting-Chen Hu & Kuo-Chen Hung & Kuo-Lung Yang, 2019. "The Convergence of Gallego’s Iterative Method for Distribution-Free Inventory Models," Mathematics, MDPI, vol. 7(5), pages 1-10, May.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eric Howe & Jingang Zhao, 2004. "Merger Incentives and Inverse Matrices from Bertrand Competition," Econometric Society 2004 North American Summer Meetings 586, Econometric Society.
    2. M. Quant & P. Borm & G. Fiestras-Janeiro & F. Megen, 2009. "On Properness and Protectiveness in Two-Person Multicriteria Games," Journal of Optimization Theory and Applications, Springer, vol. 140(3), pages 499-512, March.
    3. Marek Hudik, 0. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 0, pages 1-20.
    4. Juho Kokkala & Kimmo Berg & Kai Virtanen & Jirka Poropudas, 2019. "Rationalizable strategies in games with incomplete preferences," Theory and Decision, Springer, vol. 86(2), pages 185-204, March.
    5. Aymeric Lardon, 2020. "Convexity of Bertrand oligopoly TU-games with differentiated products," Annals of Operations Research, Springer, vol. 287(1), pages 285-302, April.
    6. Takayuki Watanabe & Nobuo Matsubayashi, 2013. "Note on Stable Mergers in a Market with Asymmetric Substitutability," Economics Bulletin, AccessEcon, vol. 33(3), pages 2024-2033.
    7. Aymeric Lardon, 2019. "On the coalitional stability of monopoly power in differentiated Bertrand and Cournot oligopolies," Theory and Decision, Springer, vol. 87(4), pages 421-449, November.
    8. Marek Hudik, 2020. "Equilibrium as compatibility of plans," Theory and Decision, Springer, vol. 89(3), pages 349-368, October.
    9. Yasuo Sasaki, 2019. "Rationalizability in multicriteria games," International Journal of Game Theory, Springer;Game Theory Society, vol. 48(2), pages 673-685, June.
    10. Luisa Monroy & Amparo M. Mármol & Victoriana Rubiales, 2005. "A bargaining model for finite n-person multi-criteria games," Economic Working Papers at Centro de Estudios Andaluces E2005/21, Centro de Estudios Andaluces.
    11. Zhao, Jingang, 2018. "Three little-known and yet still significant contributions of Lloyd Shapley," Games and Economic Behavior, Elsevier, vol. 108(C), pages 592-599.
    12. I. Nishizaki & T. Notsu, 2007. "Nondominated Equilibrium Solutions of a Multiobjective Two-Person Nonzero-Sum Game and Corresponding Mathematical Programming Problem," Journal of Optimization Theory and Applications, Springer, vol. 135(2), pages 217-239, November.
    13. Raul P. Lejano & Helen Ingram, 2012. "Modeling the commons as a game with vector payoffs," Journal of Theoretical Politics, , vol. 24(1), pages 66-89, January.
    14. H. Yu & H. M. Liu, 2013. "Robust Multiple Objective Game Theory," Journal of Optimization Theory and Applications, Springer, vol. 159(1), pages 272-280, October.
    15. Andreas H. Hamel & Andreas Löhne, 2018. "A set optimization approach to zero-sum matrix games with multi-dimensional payoffs," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 88(3), pages 369-397, December.
    16. Karima Fahem & Mohammed Radjef, 2015. "Properly efficient Nash equilibrium in multicriteria noncooperative games," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 82(2), pages 175-193, October.
    17. Takeda, Kohei & Hosoe, Toyoki & Watanabe, Takayuki & Matsubayashi, Nobuo, 2018. "Stability analysis of horizontal mergers in a market with asymmetric substitutability," Mathematical Social Sciences, Elsevier, vol. 96(C), pages 73-84.
    18. Sasaki, Yasuo, 2022. "Unawareness of decision criteria in multicriteria games," Mathematical Social Sciences, Elsevier, vol. 119(C), pages 31-40.
    19. Kokkala, Juho & Poropudas, Jirka & Virtanen, Kai, 2015. "Rationalizable Strategies in Games With Incomplete Preferences," MPRA Paper 68331, University Library of Munich, Germany.
    20. Podinovski, Vladislav V., 2010. "Set choice problems with incomplete information about the preferences of the decision maker," European Journal of Operational Research, Elsevier, vol. 207(1), pages 371-379, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wly:navres:v:45:y:1998:i:1:p:83-98. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://doi.org/10.1002/(ISSN)1520-6750 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.